|
Home / Finance / Leasing
How to Live in One of The Most Expensive Cities in The World For Less Than £1000 a Month?
By:
Option 1. Tow a luxury caravan behind a vehicle to use for your living accommodation and keep moving from location to location in the city.
Option 2. Have your home fitted to your own specification by a top of the range couch builder with all the mod cons to your hearts content. Then park it either permanently or semi-permanently , you simply rent a small plot of land either in the city or in one of the suburbs just outside the main city.
Option 3. Since River Thames runs through the heart of the London city, you can buy yourself a small boat for three people, a luxury one for more people or go for the long river boat with a lot of living space. In this article, we discuss this option in detail, its merits and benefits:-
1)First of all you need a boat and there is a huge number and sizes to choose from.
Consider this scenario and the savings.
“ The Cheyne Walk home has very prestigious address as well as a good view of the embankment but the asking price is £6.5 million. If you opt for the house boat instead, you will have acquired for yourself virtually the same prestigious address and a saving of £6.5 millions or near that point”.
What sort of boat do I need? Here is an example of a house boat moored in Chelsea with mooring rights till 2020 at the rate of £9,000 per year or £750 per month. This is very cheap when you compare this cost to rents of £500 per week being charged in the same area for traditional home living.
The most common house boat is the narrow one; it stretches 45 to 50ft in length and about 6 feet in width. There is ample living space for a couple and occasional guests. You can buy a brand new narrow boat for about £90,000 but used ones are available for about £25,000 to £30,000.
Buying a house boat is no different than buying car or a home. You need to have your future possession/home checked out properly for value and major defects if any. It is recommended that you have a detailed survey carried followed by a thorough safety inspection. The safety inspection is an absolute must.
2)Mooring costs? Mooring costs range between £4,000 and £8,000 per year. These costs very much depend on the location where your boat is moored. The due diligence in respect of mooring rights is important, advised and is highly recommended. Visit the potential mooring site and ask questions of the existing river boat residents. River people are a very close knit community and will help you in your decision making process. Ask them all the questions which you feel need answering. For example, you want to make sure that you can stay there for as long as you want. Therefore, having a 25 year lease will give you the security and the peace of mind. It is advised for you to check that your mooring rights are not for a short period. And, if you are taking over a lease which has a tenure of 3 years still to run, you want to make sure that you have the option to renew it in its present state without any alterations to any of the existing covenants.
3)Are there any additional costs to take into account? You are treated no different than a ordinary resident so far as the local government taxation is concerned. For London, the council tax is between £900 to £1,200 per year. The river licence will add another £1,000 per year to your cost of living. Insurance costs in respect of your possessions and the boat itself amount to £800 per year. There are maintenance costs of around £4,000 every 4 years. So, set aside a £1,000 per year to pay for these essential costs when the time comes to avoid unpleasant surprises.
Finally, this is flexible living indeed because you can move to another place up or down the river. Buying a boat and then paying for everything else does amount to a lot of money it would appear. But, these costs are much less than you would have to pay if you were to buy a house in London. Can I get a mortgage to buy a boat? There are lenders willing to lend although it is a much more risky proposal and therefore attracts a slightly higher interest rate. The point of the exercise is that for about £1,000 a month, you can be living in the heart of the London city where other people are paying a whopping £1,000 per week.
Digg
del.icio.us
Blink
Stumble
Spurl
Reddit
Netscape
Furl
Article keywords: Boat, boat mortgage, river boat, mooring, mooring rights, buy a boat, which boat
Article Source: http://www.articles2k.com
Invest in a river boat & live life to the full. For mortgage information visit mortgage info. site at http://www.4mortgagessite.com
|
|
| Top Leasing Articles |
- 1). Ready to Sign that Lease Agreement? By : Adam Smith
Is Signing that Lease Agreement Right for You?
The real estate market is booming across the United States, especially in select areas of California as well as Las Vegas. Even the sleepy town of Boise, Idaho is experiencing record breaking primary residential development. Where ever you happen to live, you have probably noticed it’s not so easy to get into that coveted house you have always dreamed of, despite the favorable mortgage rates.
|
- 2). Everything You Need To Know About Construction Equipment Leasing...And How To Get It! By : Con Quimper
As a decision-maker in the construction industry, weighing all equipment acquisition options is a critical aspect of the job - especially given today's fluid marketplace.
With construction equipment leasing you don't have to worry about the overhead of the purchase while keeping your cash accessible. No matter how big or small your project you can always find leasing options from the financial institutions who specialise in this type of product.
|
- 3). Future of Equipment Leasing By : Heather Long
The future of equipment leasing is firmly hand in hand with business development, small, large and everything in between. Equipment leasing is synonymous with possibilities and what business does not benefit from possibilities? Equipment leasing offers businesses: Financial Options, Growth or Expansion Options and Business Potential.
Financial Options - Businesses need financial capital to grow.
|
- 4). Lease Option Technique By : Dr. Drew Henry
Why do people sell properties using lease options? There is a reason that some of the most successful real estate investors use the lease option technique.
No Down Payment: I know what you're thinking, "I would never offer such a thing!" You don't have to. As a real estate investor rich in tools to find motivated sellers, you could get your next home using this lease option technique with no money down.
|
- 5). Car Leasing Basics By : Robert Thatcher
Over the past few years, the popularity of car leasing has soared. When you compare leasing with buying a car and suffering the humongous monthly installment fees, leasing provides a better and more viable financial option.
For auto leasing, you need to know the tricks of the trade so that you will not end up paying more than when you directly buy the car.
|
|
|
- 7). Leasing Is Often Better Than Buying By : Joel Noah
Leasing refers to an owner, or lessor, selling use of his property (equipment, automobile, home, or business) to a lessee. For many individuals, leasing is a good alternative to buying because leasing requires less equity and, therefore, more people have the qualifications to lease than to buy. For example, a $1 million piece of property may be too expensive for a business to purchase, so they lease it for $5,000 per month, which they are able to do with the profits they make.
|
- 8). The issue of car finance By : Amelie Mag
When buying a new car, a common issue is the way people pay for it. Most use car finance to pay for their vehicles. If you want to make the best deal, you will have to understand car finance and the intricacies of its processes.
When buying a vehicle there are a couple of aspects people think about: whether their future car will be a new one or a used one and where they will get the money from.
|
- 9). Leasing Equipment Versus Buying By : David Springer
Short on cash, but need equipment? Consider leasing what you need. Leasing equipment may be a better alternative to buying, depending on your situation and needs.
Today, leasing is common practice in business. Over the past two years, equipment leasing has risen approximately 20 percent, according to recent research by the U.S. Small Business Administration (SBA).
|
|
|
| New Leasing Articles |
- 1). Accounts Payable Outsourcing: things you need to check out By : Michelle Barkley
Every individual running a business wants to be free of the burden of paying money which they owe to anyone as soon as possible. Accounts payable literally means the money which a business owes to sellers for products and services which have been bought from them on credit. If not paid in time accounts payable can pile up and spell trouble for any business.
|
- 2). Future of Equipment Leasing By : Heather Long
The future of equipment leasing is firmly hand in hand with business development, small, large and everything in between. Equipment leasing is synonymous with possibilities and what business does not benefit from possibilities? Equipment leasing offers businesses: Financial Options, Growth or Expansion Options and Business Potential.
Financial Options - Businesses need financial capital to grow.
|
- 3). Choosing the Best Type of Lease for Your Business By : Heather Long
When it comes to leasing equipment, understanding what it can do for your business is only part of the equation. Understanding and choosing the best lease for your business is another matter altogether. The market is primed for the use of equipment leasing to expand, grow and hone a businesses assets, but at the same time there is little material out there to help a business judge what’s a good lease and what isn’t.
|
|
|
|
|
- 6). A Guide to Car Leasing By : Amber Lowery
Do you ever feel like you know just enough about car leasing to be dangerous? Let's see if we can fill in some of the gaps with the latest info from car leasing experts.
|
|
|
- 8). Workflow automation in the leasing industry creates efficiencies By : Alex Snyder
Lease management software provider Odessa Technologies contends that automated workflow processing accelerates lease processing times, effectively manages related processes, and optimizes workforce efficiencies in any decision making environment. Any workflow process, whether it be for the decision on lease applications or vendor payments (check requests), can be accommodated by an automated workflow system that is built with adequate versatility.
|
|
|
- 10). Everything You Need To Know About Construction Equipment Leasing...And How To Get It! By : Con Quimper
As a decision-maker in the construction industry, weighing all equipment acquisition options is a critical aspect of the job - especially given today's fluid marketplace.
With construction equipment leasing you don't have to worry about the overhead of the purchase while keeping your cash accessible. No matter how big or small your project you can always find leasing options from the financial institutions who specialise in this type of product.
|
|
|
